Alternative Sources of Finance for Uganda: Accion Venture Lab

Alternative Sources of Finance for Uganda: Accion Venture Lab

Disclaimer

I am not an agent or related to this entity. The data delivered underneath is impartial as based mostly on my investigate and practical experience. Although I have taken measures to assure the accuracy of the information presented in this article, there can be no warranty that it will remain precise.

Simple details

Fund’s target shopper: “Late start out-ups”.

Sector concentration: Economic products and services specifically those using emerging know-how for instance mobile money and “branchless” banking, social media and cloud computing.

Quantities furnished: $100,000 – $300,000

Funding type: Undertaking capital (Indicates, instead than offering a financial loan, the fund requires a % of shares in the focus on corporation, may perhaps also do convertible credit card debt that is a loan that can be turned into shares.)

Essential criteria:

  • Ground breaking products from providers that are producing game altering systems and disruptive enterprise designs that will present financial solutions to individuals at the base of the pyramid(BOP) and
  • Need to have not have major revenue but really should be put up analysis and enhancement, complete time workforce in position and preferably a pilot/prototype in the current market.

More information and facts:
Research on the internet for the fund information and facts or contact the East Africa call: [email protected]

Who is at the rear of the fund?

Accion is a private nonprofit corporation that is a pioneer in micro-finance. It was launched in 1961.

What is the software approach like?

The fund was not long ago released in April 2012 and so there is no distinct information offered but the expectation of the process is:

1. Send an initial e mail to Nicky Khaki the East Africa get hold of.

2. submission of an govt summary to highlight the prospect and the funding need to have.

3. Submission of comprehensive system, thanks diligence and a web site visit to guarantee the group is in place.

What are my check out/strategies for achievement in accessing the capital?

1. Impress:The enterprise lab is an “experimental challenge” and so is seeking the “Future major matter”. I believe that that the company strategy/govt summary you submit should display how you are embracing new/rising technology to solve Uganda’s difficulties. It ought to not be conservative but really should balance the futuristic watch with the practical factors.

2. Current market study. As the staff is keen for technological know-how that has been analyzed and a design starting off to get the job done in the marketplace, you want to demonstrate proof of tests in the Ugandan sector.

3. Scalability.Looking at the get the job done Accion does around the globe in the industry of micro-finance, a great model will need to present that it can be replicated, cheaply, if possible in other rising economies and for the profit of the “poorest of the weak” the concentration of a whole lot of micro-finance.

Although I provide the previously mentioned strategies, you need to be knowledgeable that some primary essential information and facts applies to all applications. This consists of facets like the program together with an executive summary, containing no faults, staying in an simple to go through format and the like.

Otherwise, ideal of luck.